So...the moral of the story is: Do Not leave your sprinkler on next to the foundation overnight!
We found our carpet all squishy at 10:30pm on Thurs night because of the water being left on [by me] overnight the night before. I'm so glad we found it when we did. It could have been much worse. We decided the next day to just bite the bullet and hire people to come and dry it out. We wanted to make sure there would not be mold from moisture in the walls or on the floor. There was water all along the entire west side of our basement. We didn't want to take chances.
So, our basement turned into something that looked like a science fiction film. They put tubes blowing hot air into the sheetrock on the walls. I'd never seen anything like it before. So strange but I'm glad to know our walls will be OK. They also put fans under the carpet making them look like a wave and had the biggest dehumidifiers I had ever seen.